Over the past few decades' companies have been moving away from certain types of medical coverage, for example, early-retiree medical coverage. Sometimes overlooked in the question of access to health insurance is the number of employees that want to retire before they're eligible for Medicare. With the slowing economy, the lack of retiree coverage becomes a bigger issue. Schools looking to reduce their workforce, or to bring in some younger teachers through attrition rather than layoffs, may find older teachers hanging on longer because they're nervous about losing their health coverage.
According to the latest findings by Mercer, it's suggested that offering a plan affects retirement decisions. In companies that offer early-retiree coverage, the average retirement age is 61, compared to 64 in organizations that don't offer such a plan.
Other findings of interest are the increased incentive programs employers are incorporating into the work culture including, walking teams and quit smoking clubs. These are designed to decrease health insurance premiums that are rising by roughly 6% annually. (2009 was projected to increase by 6.4%. Statistics have not been published yet.)
Programs that encourage employees to live healthier lifestyles reduce the amount of health spending, and lead to a more positive work environment.
